ADDX Go Morning Market Wrap- 2024 Oct 10

Market Key Focus

Equities: Nvidia shares are up 25% in the last month, rallying near a record ahead of tech earnings.

SMCI will begin trading post 10-for-1 stock split tonight

Crypto: Len Sassaman gets the Memecoin Treatment ahead of HBO Bitcoin Creator Documentary.

US Treasury Bonds: The 10-year treasury yield is down 0.02% to 4.065%.

FX: AUD/USD remains on the defensive around 0.6700, eyes on US CPI inflation data.

Gold: The gold price is up 0.061% to 2627.6 ahead of the U.S CPI Data.

U.S. Oil: WTI Oil is up 0.49% at 73.58 after experiencing a 4% decline last week due to developments in Libya and Saudi Arabia easing OPEC+ restrictions.

Smart Money Tracking

ARKK Investment Holdings Update:

Reduced its position in Roblox Corporation by 72,513 shares, a decrease of 0.87% from the previous holding. The current position represents 6.43% of the total portfolio.

Reduced its position in Palantir Technologies Inc. by 61,845 shares, a decrease of 0.87% from the previous holding. The current position represents 5.1% of the total portfolio.

Reduced its position in Block by 36,351 shares, a decrease of 0.87% from the previous holding. The current position represents 5.01% of the total portfolio.

Stocks to Focus

Amazon same-day prescription delivery expanding to nearly half of the U.S. in 2025.

Boeing withdrew the contract offer after talks with the union ended without a deal.

Bayer shares dropped 7% after the U.S. court said it would review the Monsanto case.

Disneyland hikes ticket prices for its highest-demand days.

Mining giant Rio Tinto to acquire Arcadium Lithium in $6.7 billion deal.

Market events

U.S. September Year-over-Year CPI (Unadjusted)

Previous: 2.5%

Forecast: 2.3%

U.S. September Month-over-Month CPI (Seasonally Adjusted)

Previous: 0.2%

Forecast: 0.1%

U.S. Initial Jobless Claims for the Week Ending October 5 (in thousands)

Previous: 225,000

Forecast: 230,000

Macros

U.S. job creation roared higher in September as payrolls surged by 254,000.

Voters think America’s economy stinks. There’s nothing that will change that before the election.

Earnings

Before Open: TILRAY(TLRY), DELTA(DAL), Domino’s(DPZ), THERA Technologies(THTX), NEOGEN(NEOG)

After Close: AEHR(AEHR)

US Equities

The S&P 500 closed up 40.91 points, or 0.71%, at 5,792.04.

The Dow Jones Industrial Average, closely related to the economic cycle, closed up 431.63 points, or 1.03%, at 42,512.37.

The Nasdaq, dominated by tech stocks, closed up +108.7 points, or 0.6%, at 18,291.62.

The Nasdaq 100 closed up 0.8%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed up 161.08 points.

The Russell 2000 Index, more sensitive to the economic cycle, closed up 0.26%.

The VIX index of fear closed down 2.61% at 20.86.

Crypto Market Insight

Whale Alert: $1M BTC Trade Bets on Volatility Expansion Outside $53K-$87K Range

Len Sassaman Gets the Memecoin Treatment Ahead of HBO Bitcoin Creator Documentary

LatAm Bank Littio Ditches Ethereum for Avalanche as Demand for RWA Vaults Grows

India's Crypto Discussion Paper on Hold Due to Other Priorities

VanEck to Invest in Early Stage Ventures Including Crypto With New $30M Fund.

Cathie Wood's ARK Invest Buys $2.2M of Coinbase Shares.